How to Sell Anything to Anybody Ch 8

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Questions and Answers

What concept does the Ferris wheel metaphor illustrate in selling?

The need for constant customer turnover without follow-up.

The significance of advertising more than personal selling.

The one-time sale approach in customer interactions.

The importance of maintaining customer relationships over time. (correct)

According to the Ferris wheel analogy, how should a salesperson treat the customers?

As permanent clients who will never need another car.

As potential repeat buyers to monitor over a period. (correct)

As temporary seats that need constant filling.

As individuals who buy cars only once in a lifetime.

What should a salesperson do to stay ahead of competition?

Keep detailed records on customers' buying patterns. (correct)

Wait for customers to reach out when they are ready.

Focus on new customers exclusively.

Contact customers just when they show intent to buy.

What sort of information is valuable for a salesperson when following a customer?

The customer's financial situation and timing for a new purchase. Signup and view all the answers

What is indicated by the statement 'nobody buys a car forever'?

Car ownership is a transient need for most people. Signup and view all the answers

What is the main strategy emphasized for finding potential customers?

Maintaining a thorough prospect list Signup and view all the answers

What does the author suggest you do when speaking to a current customer?

Ask if they know anyone else looking to buy Signup and view all the answers

Why is maintaining a mailing list deemed valuable?

It connects to a large pool of repeat prospects Signup and view all the answers

What does Girard's Law of 250 suggest?

Each person has approximately 250 connections Signup and view all the answers

How should salespeople approach their profession according to the author?

With pride and confidence Signup and view all the answers

What kind of personal records does the author recommend using for prospects?

Personal bills records Signup and view all the answers

What overall approach should salespeople take when they see customers, according to the author?

Utilize the opportunity to promote their offerings Signup and view all the answers

What is a disadvantage of mailing to a large list of prospects?

It can be expensive due to postage costs Signup and view all the answers

What type of prospects does the author emphasize is particularly valuable?

Individuals already in contact with the salesperson Signup and view all the answers

What is one potential outcome of effectively using a customer mailing list?

Increased visibility of your business Signup and view all the answers

Study Notes

Selling Strategies

Selling is like planting and harvesting continuously, or filling seats on a Ferris wheel.
The Ferris wheel analogy: The wheel keeps turning, with customers getting off and new ones getting on.
Customers buy products for a specific time (e.g., 2-5 years). Using files and records allows you to anticipate customer needs and be there when they want to buy again.

Customer Relationships

Records are essential to anticipate customer needs (e.g., Steve Kowalski's car, creditworthiness, purchasing times).
Be proactive in keeping track of customer information and their potential purchase cycles.
Not all potential customers will be forthcoming or easy to identify. This is part of the process.
Don't get discouraged; keep in touch and make connections.
Follow up with leads, even if they seem uninterested or a sale doesn't immediately happen.

Building & Maintaining Prospect Lists

Maintaining detailed records of customers (past and present) is valuable.
Lists of prospects are essential (solid prospects, regardless of size). Every lead is worth pursuing.
Using a mailing list allows outreach to a large pool of potential customers.
This approach, though potentially expensive, is an effective way to generate sales.
Personal address books and files are sources of prospects
People you buy from can become prospects too, reciprocating business relationships. (e.g., car salesman buying from a mechanic)
Keep track of customer's needs and what other goods they might need.
Remember to leverage Girard's Law of 250; people talk to many people daily and discuss various topics.

Importance of Brand Awareness

Salespeople should be proud of their profession and proactively let everyone know what they sell.
Don't be afraid to promote your services or products.
Sales have a significant impact on wider industry and economic activity.
Building relationships with customers is just as important as closing the sale.
By helping others you're also helping yourself.

Lead Generation

Make sure all contacts and customers know what you sell.
Gather information on buyers that are not just about buying but also about needs, desires, and potential future needs.

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Description

This quiz explores effective selling strategies and the importance of maintaining customer relationships. Topics include the Ferris wheel analogy, proactive record-keeping, and the significance of follow-ups in sales. Test your knowledge on how to build and maintain a robust prospect list.